The Banko Sentral ng Pilipinas (BSP) approved Producers Bank’s application for five (5) new branch licenses last 21 February 2011.
Producers Bank requested for authority to establish five (5) new branches in each of the following locations – Marilao and Hagonoy in Bulacan, Lipa City in Batangas, Calamba City in Laguna and Lucena in Quezon province.
With the approval, Producers Bank will now have four (4) branches in Bulacan and three (3) branches in Region IV-A (CALABARZON). This will bring the branch network of Producers Bank to a total of sixty five (65) all over Luzon.
Producers Bank looks forward to offering its banking services to the constituents of the five (5) areas where it will establish new branches. Hagonoy and Marilao branches opened on March 2011, Calamba branch opens on 23 May 2011, while the remaining two (2) branches are to be opened on or before the middle of the year.
These positive developments, in addition to BSP’s approval on the upgrade of Producers Bank’s banking license to a thrift bank and membership in the Philippine Clearing House Corporation (PCHC), are major milestones that Producers Bank achieved recently which are all in line with its vision i.e. to be the most progressive, stable and strong private development financial institution in the Philippine countryside.